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- Precious Metals
Acquisitions Vault StoneX into End-to-End Metals Offering
By: Gustian Farrow, Head of StoneX TV • Content Channels
Acquisitions Vault StoneX into End-to-End Metals Offering
In a recent interview, Alex DeMarzi, StoneX Head of Metals Americas, explained how two late 2024 acquisitions reshape the group’s precious metals franchise.
Key Takeaways
- UK refinery lets StoneX process lower-grade films, sweeps, and sludge previously out of scope
- New York vault adds in-house storage, pick and pack logistics and straight-through exchange delivery
- Integrated model diversifies revenue and cushions political or market volatility
Expanding the Precious Metals Footprint
StoneX’s strategy for years centred on financial hedging and high-grade physical trade. “Our objective is always to be able to provide new services, new products and new capabilities to all our clients”. Buying JBR, now StoneX Metals Limited, and a New York-based vault brings the missing pieces under one roof and moves the firm into the processing and logistics lanes once reserved for specialist players.
Unlocking Value from Lower Grade Supply
The refinery delivers a competitive edge with material that large mines struggle to monetize. DeMarzi emphasized: “But with this refinery in particular, we’re able to buy new kinds of metal we never buy, which is really lower grade metal”. He later added, “I’ll take your carbon fines, I’ll take your sweeps. I’ll take basically all the garbage that you have, and I will bring it in and refine it and give you value for it”. Capturing this overlooked feedstock broadens StoneX’s supplier base and deepens relationships with miners and recyclers.
Integrating Storage and Logistics
Control of a COMEX-approved vault in New York completes the chain. Clients can refine metal, ship it across continents, and deliver it into the exchange without leaving the StoneX ecosystem. “We can literally do the full process”, DeMarzi said, pointing to a service spanning raw material, fabrication, financing, and final delivery.
Towards a Resilient, Sustainable Model
Diversification also buffers the business against geopolitical shocks. “Our business is going to be sustainable regardless of what happens”. By offering hedging, refining, and storage in multiple jurisdictions, StoneX can shift volumes and capital to where conditions are most favorable, while giving counterparties fewer intermediaries and tighter cost control.
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---- Written by Gus Farrow
--- Expert: Alex DeMarzi, StoneX Head of Metals Americas
- Precious Metals
The subsidiaries of StoneX Group Inc. provide financial products and services, including, but not limited to, physical commodities, securities, clearing, global payments, risk management, asset management, foreign exchange, and exchange-traded and over-the-counter derivatives. These financial products and services are offered in accordance with the applicable laws in the jurisdictions in which they are provided and are subject to specific terms, conditions, and restrictions contained in the terms of business applicable to each such offering. Not all products and services are available in all countries. The products and services offered by the StoneX Group of companies involve risk of loss and may not be suitable for all investors. Full Disclaimer. This content is not intended for residents of any particular country, and the information herein is not advice nor a recommendation to trade nor does it constitute an offer or solicitation to buy or sell any financial product or service, by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. Please refer to the Regulatory Disclosure section for entity-specific disclosures. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc. The information herein is provided for informational purposes only. This information is provided on an ‘as-is’ basis and may contain statements and opinions of the StoneX Group of companies as well as excerpts and/or information from public sources and third parties and no warranty, whether express or implied, is given as to its completeness or accuracy. Each company within the StoneX Group of companies (on its own behalf and on behalf of its directors, employees and agents) disclaims any and all liability as well as any third-party claim that may arise from the accuracy and/or completeness of the information detailed herein, as well as the use of or reliance on this information by the recipient, any member of its group or any third party.
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